Thirty-nine percent of contractors report that project owners have halted or canceled current construction projects amid deteriorating economic conditions, according to a survey recently released by the Associated General Contractors of America. The project cancellations are particularly severe in light of new data showing that 42 states added construction jobs through February.
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Construction Forecast 2020
The outlook for construction spending in 2020-21 is positive but lower than 2019. The AIA’s semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters, is projecting 1.5% growth in nonresidential construction spending in 2020 and 1% in 2021.
Architecture Billings Index Continues Modest Growth in November 2019
Demand for design services in November increased at a modest pace for the second month in a row, according to The American Institute of Architects (AIA).
Architecture Billings Index Rebounds in October After Two Down Months
Following a two-month decline in demand for design services, architecture billings got a bounce in October, according to a new report by the American Institute of Architects (AIA).
Architecture Firm Leaders Share Insights on How to Weather an Economic Downturn
Though the last few years have been very good for the architecture business, the American Institute of Architects’ Architecture Billings Index, a leading economic indicator for the construction market, suggests an impending downturn. In an article published on the AIA website, Steve Cimino interviewed three architecture firm leaders–Tim Dufault, FAIA, president and CEO at Cuningham Group; Carole Wedge, FAIA, CEO at Shepley Bulfinch; and Ed Shriver, FAIA, founding principal of Strada–to gain insight into how they’ve faced previous downturns.
ABI Suggests Decline in Architecture Billings
Demand for design services in August took a markedly downward swing compared to July’s already soft score, according to a report recently released by The American Institute of Architects (AIA).
Architecture Billings Index Continues Its Streak of Soft Readings
Demand for design services in July remained essentially flat in comparison to the previous month, according to a new report recently released by The American Institute of Architects (AIA).
AIA Consensus Construction Forecast Predicts Growth Despite Signs of Impending Declines
Spending on nonresidential building construction is expected to increase almost 4% this year and more than 2% in 2020, according to a new consensus forecast from The American Institute of Architects (AIA).
NECA Endorses MCAA Change Order Publication
The National Electrical Contractors Association (NECA) has given its full endorsement to the 2018 edition of the Mechanical Contractors Association of America’s (MCAA) publication Change Orders, Productivity, Overtime—A Primer for the Construction Industry.
ConstructConnect: U.S. Construction Spending to Approach $1.5 Trillion by 2021
Driven by mega projects, the value of U.S. new construction will rise to $1.45 trillion by 2021, according to a new forecast by ConstructConnect.
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